Page 308 - 2019 6th AFIS & ASMMA

» Panelist | Luca Bertalot taxonomy in Europe. So it is clear that now everyone, even the nuclear
If I understood the question correctly, as I mentioned earlier, I don’t industry, is considering ESG, is thinking.
think the bank can be the only part involved to promoting energy
efficiency renovation. It should be coming from the institution, including Okay, I think that's the end of questions we have. Do you have
SMEs involved in these kinds of activities. For example, in Europe, we anything to add about the ESG issues before we wrap up? I hope this
are trying to involve companies like Knauf or Velux, for better insulating session was very informative to all of you, and provides a good stepping
of buildings or the windows. Because those entities have an interest in stone for your work. Thank you. Session I
playing a role in the area, and they can provide customers with discounts
in case of applying a certain energy efficiency mortgage. So, we are trying
to develop a kind of network of companies that can provide incentives
to customers entering in the energy efficiency mortgages, because the
works can be done either in a better way or at a cheaper price. So,
I think the energy efficiency renovation support should come from
other stakeholders, not from a single entity. So, they also have to build
a guarantee for proper completion of the works, because the quality of
the works completed can be of an issue. And the bank cannot be the
one checking the quality of every single works, so we need to create a
certification system recognized by the state that can guarantee to the
bank that the work is properly completed. So that's another issue that we
are trying to fix.

» Moderator | You Tay Lee
Okay, here another question comes up. POSCO, in Korea, becomes
the first steel maker to issue ESG bonds in Korea. Is it common that the
manufacturing industry issues ESG bonds in Europe?

» Panelist | Maureen Schuller
Yes, I think in the corporate bond space, utilities would primarily
dominate the supply. But it is expanding to other sectors, as well.

» Moderator | You Tay Lee
Just to share a story with you on the negotiation of taxonomy, the
nuclear industry was very agitated that they were not included in the

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